What should I know about Title Insurance?

Asked by John, Brockton, MA Fri Aug 10, 2007

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Kendra Garcia…, , Easton, MA
Fri Aug 10, 2007
In general, title insurance provides a safety net that protects the lender if there should be a future problem with the title.
The buyer and lender are covered separately.
Mandatory lender's coverage protects the bank's investment and optional buyer's coverage is what will help protect your investment against defects in the title.
Problems with titles can vary. One type of problem is an unrecorded lien which may have been
put on the home prior to your purchase. Another problem that often occurs is an unrecorded discharge.
This means the prior deed was not recorded correctly or perhaps was not recorded at all at the Registry of Deeds.
2 votes
Carrie Crowe…, Agent, Southaven, MS
Fri Aug 10, 2007
Title insurance is mandatory for the lender. Buyers insurance is optional. If you have a good Title Company they will explain to in depth the benefit of having title insurance. If there should be an issue with Title, the lender will be covered. If you did buy the optional title insurance you will not be protected. Before I was in the business we opted not to get title insurance. Now that I am in the business, I won't do that again. There are far to many things that can go wrong.
Web Reference:  http://carriecrowell.com
1 vote
Ellen Chung, , San Mateo, CA
Fri Aug 10, 2007
For the most part, when you first buy a home the lender requires title insurance to cover them but they also require buyer's insurance to cover you. If any problems arise with the ownership or ownership history of the property in the future, it is the title company that will take care of the expenses necessary to defend your rightful ownership. My website actually has a very helpful Title section in my Library with articles on this, the link is below. It can answer many questions about title insurance--the common things that it protects you from, frequently asked questions about escrow and title insurance, etc.
1 vote
Jeffrey Chal…, , Arlington, MA
Fri Nov 9, 2007
Hi John,

If you're still looking for answers, check out this link - http://www.clickncompare.com/Title_Insurance/page_1777757.html

Thank you.

Jeffrey P. Chalmers
Sr. Mortgage Planner
Real Solutions LLC
661 Massachusetts Avenue
Arlington, MA 02476-5001

(781) 646-8430 Ph (x901)
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Web Reference:  http://www.clickncompare.com
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